Hennessy Advisors Inc. Sells 35,500 Shares of ONEOK, Inc. $OKE

Hennessy Advisors Inc. trimmed its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 9.0% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 360,114 shares of the utilities provider’s stock after selling 35,500 shares during the quarter. ONEOK accounts for approximately 1.0% of Hennessy Advisors Inc.’s investment portfolio, making the stock its 23rd biggest position. Hennessy Advisors Inc.’s holdings in ONEOK were worth $31,308,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Zions Bancorporation National Association UT lifted its holdings in shares of ONEOK by 73.3% during the fourth quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 143 shares in the last quarter. Pin Oak Investment Advisors Inc. bought a new stake in ONEOK in the 2nd quarter worth about $28,000. Elyxium Wealth LLC bought a new stake in ONEOK in the 4th quarter worth about $29,000. Cornerstone Financial Management LLC purchased a new position in ONEOK in the 4th quarter worth about $29,000. Finally, Transamerica Financial Advisors LLC raised its position in ONEOK by 69.6% in the 2nd quarter. Transamerica Financial Advisors LLC now owns 363 shares of the utilities provider’s stock worth $32,000 after buying an additional 149 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of NYSE OKE opened at $94.88 on Friday. ONEOK, Inc. has a 12-month low of $64.02 and a 12-month high of $97.90. The firm has a market capitalization of $59.81 billion, a price-to-earnings ratio of 16.36, a price-to-earnings-growth ratio of 2.64 and a beta of 0.73. The company has a current ratio of 0.74, a quick ratio of 0.59 and a debt-to-equity ratio of 1.34. The firm has a 50 day moving average of $90.89 and a 200 day moving average of $88.71.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, August 3rd. The utilities provider reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.07. ONEOK had a net margin of 9.29% and a return on equity of 16.41%. The business had revenue of $12.05 billion for the quarter, compared to the consensus estimate of $8.95 billion. During the same period last year, the firm earned $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. On average, research analysts anticipate that ONEOK, Inc. will post 5.84 earnings per share for the current year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 3rd were given a dividend of $1.07 per share. The ex-dividend date was Monday, August 3rd. This represents a $4.28 annualized dividend and a yield of 4.5%. ONEOK’s payout ratio is 73.79%.

Analyst Ratings Changes

A number of analysts have recently commented on OKE shares. JPMorgan Chase & Co. lifted their price target on shares of ONEOK from $91.00 to $92.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Weiss Ratings restated a “buy (b-)” rating on shares of ONEOK in a research report on Thursday, August 13th. Royal Bank Of Canada raised their target price on shares of ONEOK from $84.00 to $90.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 21st. Barclays decreased their target price on shares of ONEOK from $90.00 to $88.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 8th. Finally, Morgan Stanley increased their price target on ONEOK from $103.00 to $105.00 and gave the company an “equal weight” rating in a report on Tuesday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $91.94.

ONEOK Profile

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.